DETROIT - NOVEMBER 18: The General Motors world headquarters complex is shown November 18, 2010 in Detroit, Michigan. GM returned to selling its newly issued stock to the public today as they resumed trading on the New York Stock Exchange. The stock sales are expected to generate approximately $23 billion for General Motors.(Photo by Bill Pugliano/Getty Images)

General Motors - Headquarters. (Photo by Bill Pugliano/Getty Images)

DETROIT (AP) – The U.S. government sold another $1.2 billion worth of General Motors stock last month as it moves closer to selling its entire stake in the automaker.

The government’s stake as of Oct. 31 could be as low as 4 percent.

The government has recovered roughly $37.2 billion of the $49.5 billion it spent to save GM five years ago. That means taxpayers are still $12.3 billion in the hole.

The report didn’t say how many shares were sold in October or how much stock the government still owns.